Defining virtual account

Fusion Cash Management (FCM) provides for a facility to its corporate customers to apply online for a series of virtual account numbers against their real account. Sub Account services provide the facility to exchange information online and prevents the customers from making paper requests.

Based on the online requests, bank issues the Virtual Account numbers to their customers and intimates them offline. Virtual accounts enable customers to have an easy way of paying into Clients Accounts without revealing their real accounts.

It also helps clients to receive detailed analysis of Receivables against each of these Virtual accounts. Pre-Liquidation information received from core banking system of a client can be uploaded in FCM and displayed to client using Receivables Query page.

1. Navigate to Sub Account.

2. Click Virtual Account Maintenance. The Virtual Account Maintenance page is displayed.

Click icon to customize the columns and column order. For more information, see Customizing summary information.

The Summary Information page displays summarized virtual accounts assigned to various clients across various corporate account, based on the specified filter criteria. The Refresh icon refreshes the data on the summary page.

Page Element	Description
Filters	You can narrow down the required definitions using the following filter criteria: • Company Name If the user has access rights for multi subsidiary. • Client Credit Account Number • Issuance Number From • Issuance Number To • Virtual Account Category • Virtual Account Number • Status To clear pre-defined filter settings, click Clear Filters.
Group by	The existing virtual accounts are listed on the grid based on the selected group on the settings page.
Actions	The various actions that are possible on a particular virtual account are: • Submit: Select the definition and click Submit to set the definition for approval. • Discard: Discard the last activity performed on the definition. • Approve: Select the definition and click Approve to approve the definition. • Reject: Select the definition and click Reject. Specify the reject remark on the popup and click OK.
Selection box	Select the check box and perform the requisite action on the role.
Select dropdown	Click Select dropdown to perform the following activities: • Modify Record: Click to modify the virtual account details. • View Record: View the virtual account details. • View History: View history of creation and approval. Alternatively, you can right click on a row to perform these actions. When you single click on a row, the View or Modify page is displayed based on the status of the record. The next actions to be taken on the definition are displayed in the drop-down list based on the status of the record.
Pagination bar	Use to navigate through the list by using the pagination bar.
Add Virtual Account	Enables you to create a new virtual account.
View	Enables you to set the number of records to be displayed on a single page.
Export	You can export the summary information to the required format such as XLS, CSV, and TSV. If you want to export with header details, select the With Header check box.
Report	You can generate a PDF report of the summary information.

Following is example of Virtual Account: